Treasury update over new 'higher limit' for older savers coming in from April

NewsCost Of LivingYour MoneyTax rates will be going up for many saversNicholas Dawson14:26, 03 Aug 2026Key changes to savings allowances are coming in soon(Image: Getty)Major changes are coming in for the UK savings landscape very soon. The Treasury has shared a fresh statement to clarify how the new rules will work.‌As set out in the Autumn Budget in 2025, millions of savers will soon face stricter limits on how much tax-free cash they can deposit each year. Many people could face higher tax bills under the changes taking effect from April 2027. Under current rules, you get a total annual ISA allowance of £20,000, which you can use however you want between different ISAs. So this can be deposited entirely into cash ISAs without any requirement to allocate funds to stocks and shares. Any e